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  • December 06, 2024

    I earned my captain’s license because I’m passionate about the water and wanted to learn as much as possible about boating. I never planned to use it professionally.

    And yet, three weeks after getting my license, I got my first paid opportunity to move a boat. That year, I earned $110,000 from boat deliveries and traveled the world on someone else’s dime.

    It’s been 25 years, and I still use my license professionally as an educator.

    So, if you’re a newly licensed captain asking, “What can I do with my license? How much do boat captains make? How do I build a strong business?” — I have the answers that’ll put you on the right track.

    How Much Do Boat Captains Make?

    A captain’s income depends on his or her line of work.

    For example, delivery boat captains make anywhere from $150 to $500+ per day plus expenses, while fishing charter boat captains can reel in more than $750 per day. Captains offering water taxi services might earn $20–$25 per hour.

    Most boat captains have the flexibility to work when they want, so how much you make depends on your goals and effort. 

    When I worked on the water, I made it a point to bring boats back in better condition than when they left the dock. As a result, my business became so popular through word of mouth that I turned jobs away at the end of my career — until some people offered to pay so much that I couldn’t refuse!

    Don’t discount the value of experience. As your business grows, you’ll receive more opportunities and reap long-term financial rewards.

    Infographic: Beyond the Helm: How Much Do Boat Captains Make?

    Common Income Streams for Captains

    Your earning potential as a boat captain goes beyond a base salary. In fact, rather than asking, “How much do boat captains make?” a better question might be, “How many ways do boat captains make money?”

    Here’s a breakdown of the most common income streams for boat captains:

    Performance Bonuses and Tips

    Captains often receive performance-related bonuses. For example, larger boats travel really fast, but they burn through fuel and make travel uncomfortable for passengers.

    Slowing down helps with fuel efficiency, brings in more positive feedback, and improves safety records. It can lead to performance bonuses, too. You might also get a bonus if your contributions to the business earn you more bookings.

    Captains (and crew members) also earn tips directly from passengers, especially in charter operations.

    A Personal Anecdote

    When I was 15, I worked as a mate on my history teacher’s charter boat. Once, we had six guys come out for mackerel fishing, which is an exhausting job even when your passengers aren’t drinking and making a mess (which they were). Fish were everywhere, and cleaning up was a lot of work.

    When we finally got off the boat, my captain said, “Bob, you made a lot of money today, didn’t you?”

    I replied, “Actually, they didn’t tip me.”

    He whistled to the guys who had just disembarked, reached into his briefcase, and pulled out a tire beater. He started swinging it around as he talked to the passengers.

    Two minutes later, I got my $300 tip!

    Rotational Salaries

    Some captains are employed on a rotational basis, meaning two or three captains work together on a particular schedule. Essentially, they each earn a full year’s salary while working part-time.

    Revenue Sharing

    In revenue-sharing models, captains get a percentage of the charter fees. They might get base pay plus a portion of each charter’s revenue. This way, captains get paid even if the boat doesn’t go out.

    This model is popular among captains and fishing experts. For example, having a great fisher onboard can generate extra revenue. Since their expertise, not the boat, draws customers, the expert deserves to make a little extra.

    Flexible Work Schedules and Seasonal Incentives

    Captains often enjoy flexible or seasonal schedules that allow them to take on additional work or projects, which increases their earning potential.

    Plenty of financially secure retirees become boat captains to find new purpose after wrapping up their careers. Sharing my skillset with someone else and setting them up for success makes me feel good! Many of us enjoy giving back.

    Boat Ownership as a Pathway to Additional Income

    Captaining your boat can unlock more earning opportunities than working on someone else’s. Many captains are surprised by how many opportunities exist for boat owners.

    You’re not limited to fishing charters and water taxis. Offer eco-tours, towing services, sailing tours, or training, or start a new business doing what you love. For example, captains married to chefs might work together to offer dinner cruises.

    Consider partnering with other corporations to offer VIP experiences. A “surf and turf” — taking passengers out fishing in the morning and bringing them back for golf in the afternoon — is a popular offering.

    Sailing events, powerboat races, and even music festivals gather plenty of people who might enjoy a day or night in your boat. Or, partner with other captains to earn money without going out on the water.

    The opportunities you have as a boat owner and captain are endless. Just make sure you have:

    • A captain’s license that meets the requirements for your operations (i.e., Six-Pack vs. Master)
    • Periodic safety inspections to comply with commercial safety regulations
    • Appropriate commercial insurance that covers your vessel, passengers, and crew
    • Working knowledge of local and international environmental laws about waste management, emissions, and wildlife protection

    Build a Strong Financial Foundation

    For aspiring captains looking to build a solid financial base in the maritime industry, it’s important to focus on a few key areas. This will help you succeed and boost your earning potential.

    Certifications and Continuous Education

    Obtaining the right captain’s license is your first step to starting a strong business. The Coast Guard requires a captain’s license for all commercial boating activities (i.e., Six-Pack or Master’s license). The higher the tonnage you’re certified to captain, the more opportunities you’ll have.

    Enhance your qualifications with specialized certifications. These range from towing and sailing endorsements to certificates for diving instruction, marine first-aid, and firefighting. Extra certifications make you more marketable and valuable to employers and clients. Plus, they expand the ways you can use your boat.

    Finally, focus on continuous learning and stay current with the latest maritime regulations, technology, and best practices. 

    Build Your Network and Reputation

    I’ve never had to pay for advertising. Boaters know other boaters. If you do a great job for one family, they’ll share your name with three other families.

    Beyond word of mouth, network and build your reputation by joining maritime or boating associations. These organizations provide networking opportunities, conferences, and events that can help you establish yourself in the maritime industry. 

    Building a professional online presence on platforms like LinkedIn is another way to strengthen your business. Consider a dedicated website or blog showcasing your expertise, experiences, and services.

    Business Strategies

    Create a business plan that outlines your services, target market, pricing strategy, operational costs, and profit projections. 

    Include these business aspects:

    1. Market research: Understand the demand and competition in your intended market or location.
    2. Marketing: Invest in effective marketing that attracts customers.
    3. Customer experience: Ensure a positive customer experience that encourages repeat business and referrals.

    Once you’ve established your business, focus on long-term management strategies. 

    Diversification

    Consider diversifying your services to include charters, training, deliveries, or consultancy.

    My boat delivery business wasn’t scalable because I was only one person, but Mariners Learning System is a viable, scalable business that doesn’t rely on my physical abilities. I’m grateful for that after I got tired of getting my butt kicked on the water!

    Financial Management

    You’ll need solid financial management skills. Your business won’t succeed over the long term if you don’t understand budgeting, taxes, and investments. Also, remember to save for the offseason and plan for maintenance costs.

    Customer Focus

    Exceeding customer expectations is the best way to keep your business healthy. Give your passengers outstanding experiences that lead to repeat business.

    Earn More With a Captain’s License 

    You might’ve asked, “How much do boat captains make?” Now that you know the answer, it’s time to launch your career.

    When you earn a captain’s license, you invest in your personal and professional development. Even seasoned sailors and powerboaters always have more to learn. (I wouldn’t want to be on the boat of someone who thinks they know it all!)

    If you’re ready to invest in your future, contact us today.

    Quote: Beyond the Helm: How Much Do Boat Captains Make?

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